Market barriers include cybersecurity threats, cost, integration challenges, other building investment priorities, and new sensor requirements
A new report from Guidehouse Insights examines the global market for commercial intelligent building (IB) solutions that assist in remotely managing and controlling major building automation systems (BASs) such as HVAC controls, lighting controls, fire and life safety, security and access, and building management systems, with revenue forecasts through 2030.
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“In practice, however, demand increased in all building types in all geographic regions and will likely continue to grow in double digits through 2030.”
The global market for IB solutions has experienced double-digit growth in the past decade. These solutions connect multiple BASs so that they can operate as an integrated whole, increasing operational efficiencies, improving capital asset management, and providing tools for building management. According to a new report from Guidehouse Insights, IB solution revenue is anticipated to grow globally from $38.2 billion in 2021 to $127.9 billion by 2030 at a compound annual growth rate (CAGR) of 14.4%.
“The coronavirus pandemic could have slowed the adoption of IB solutions in 2020 and 2021. Several building segments faced dramatic decreases in use including retail, transportation, and office space while others, such as healthcare, faced exceptional demand,” says William Hughes, principal research analyst with Guidehouse Insights. “In practice, however, demand increased in all building types in all geographic regions and will likely continue to grow in double digits through 2030.”
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Despite the many compelling reasons to install IB solutions, there are also inhibitors, which include cybersecurity threats, the significant cost of hardware, software, and services, challenges when integrating multiple BASs, other building investment priorities, and new sensor requirements to ensure optimal performance.
The report, Market Data: Intelligent Buildings, examines the global market for commercial IB solutions that enable building owners, managers, and operations to remotely manage and control major BASs such as HVAC controls, lighting controls, fire and life safety, security and access, and building management systems. Market conditions, technology issues, and trends are analyzed to forecast the adoption and success of these systems. The report includes estimates of market size and revenue forecasts for 2021 through 2030 for five global regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), each system type, and eight building types. An executive summary of the report is available for free download on the Guidehouse Insights website.
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